(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ opinion on the M6 share with a price target raised from 19 to 20 euros, the day after 2022 results came out slightly lower than its expectation, but higher than that of the consensus.
‘The quarter was difficult due to the slowdown in investments by certain advertisers such as automotive and food. This trend has been compensated by strict cost control, in particular grid costs, ”he underlines in particular.
“The first quarter advertising trend is currently positive according to our understanding despite still low visibility,” continues the analyst, whose earnings expectations are revised upwards for 2023.
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